Gross Domestic Product (GDP) based on Purchasing Power Parity (PPP) is a crucial economic indicator that allows for more accurate comparisons of economic productivity and standards of living between countries. Unlike nominal GDP, which uses current exchange rates, GDP (PPP) adjusts for differences in price levels between countries, providing a more realistic measure of the value of goods and services produced. According to the International Monetary Fund (IMF), GDP (PPP) is often used to compare the economic output of countries because it accounts for the relative cost of living and inflation rates, making it a more reliable metric for international comparisons.
The data presented in this article is sourced from the World Bank, which compiles comprehensive economic statistics from around the globe. By using GDP (PPP), we can better understand the economic power and living standards of different nations, as it reflects the actual purchasing power of their currencies. This measure is particularly useful for assessing the economic performance of developing countries, where nominal GDP might not fully capture the economic realities.
Top 10 Countries with the Highest GDP (PPP)
Note: The given data is according to the World Bank data 2023
- China: $34.64 trillion
- United States: $27.36 trillion
- India: $14.53 trillion
- Russia: $6.45 trillion
- Japan: $6.25 trillion
- Germany: $5.85 trillion
- Brazil: $4.45 trillion
- Indonesia: $4.33 trillion
- France: $4.16 trillion
- United Kingdom: $4.02 trillion
These figures highlight the economic dominance of China and the United States, which together account for a significant portion of the world’s economic output. China’s GDP (PPP) is the highest, reflecting its massive population and rapid industrialization. The United States, while having a smaller population, maintains a high GDP (PPP) due to its advanced technology and high productivity levels.
India’s position as the third-largest economy by GDP (PPP) underscores its growing economic influence, driven by a large and youthful population. Russia and Japan follow, with their economies benefiting from natural resources and technological advancements, respectively. The presence of Brazil and Indonesia in the top ten indicates the rising economic power of emerging markets in South America and Southeast Asia.
GDP Trends Over Time
Over the past few decades, the global economic landscape has shifted significantly. Emerging economies like China and India have seen rapid growth, while traditional economic powerhouses like the United States and Japan have experienced more moderate growth rates. This trend reflects the increasing importance of developing countries in the global economy, driven by industrialization, urbanization, and demographic changes.
Global GDP Distribution
The distribution of global GDP (PPP) is highly uneven, with a small number of countries accounting for a large share of the world’s economic output. This concentration of economic power has significant implications for global trade, investment, and economic policy. Understanding these dynamics is crucial for policymakers and businesses as they navigate the complexities of the global economy.
Full Table
| wdt_ID | wdt_created_by | wdt_created_at | wdt_last_edited_by | wdt_last_edited_at | # | Country/Territory | GDP (PPP, World Bank 2023) | GDP (Abbriv.) |
|---|---|---|---|---|---|---|---|---|
| 1 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 1 | China | $34,643,706,000,000 | $34.64 Trillion |
| 2 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 2 | United States | $27,360,935,000,000 | $27.36 Trillion |
| 3 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 3 | India | $14,537,383,000,000 | $14.54 Trillion |
| 4 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 4 | Russia | $6,452,309,000,000 | $6.45 Trillion |
| 5 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 5 | Japan | $6,251,558,000,000 | $6.25 Trillion |
| 6 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 6 | Germany | $5,857,856,000,000 | $5.86 Trillion |
| 7 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 7 | Brazil | $4,454,930,000,000 | $4.45 Trillion |
| 8 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 8 | Indonesia | $4,333,084,000,000 | $4.33 Trillion |
| 9 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 9 | France | $4,169,071,000,000 | $4.17 Trillion |
| 10 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 10 | United Kingdom | $4,026,241,000,000 | $4.03 Trillion |
| 11 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 11 | Turkey | $3,767,230,000,000 | $3.77 Trillion |
| 12 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 12 | Italy | $3,452,505,000,000 | $3.45 Trillion |
| 13 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 13 | Mexico | $3,288,671,000,000 | $3.29 Trillion |
| 14 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 14 | South Korea | $2,794,196,000,000 | $2.79 Trillion |
| 15 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 15 | Spain | $2,553,107,000,000 | $2.55 Trillion |
| 16 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 16 | Canada | $2,469,314,000,000 | $2.47 Trillion |
| 17 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 17 | Egypt | $2,120,932,000,000 | $2.12 Trillion |
| 18 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 18 | Saudi Arabia | $2,031,780,000,000 | $2.03 Trillion |
| 19 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 19 | Australia | $1,841,115,000,000 | $1.84 Trillion |
| 20 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 20 | Poland | $1,814,628,000,000 | $1.81 Trillion |
| 21 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 21 | Thailand | $1,681,795,000,000 | $1.68 Trillion |
| 22 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 22 | Iran | $1,598,124,000,000 | $1.60 Trillion |
| 23 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 23 | Bangladesh | $1,567,951,000,000 | $1.57 Trillion |
| 24 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 24 | Vietnam | $1,502,096,000,000 | $1.50 Trillion |
| 25 | mfk97mfk | 22/09/2024 05:46 AM | mfk97mfk | 22/09/2024 05:46 AM | 25 | Pakistan | $1,493,905,000,000 | $1.49 Trillion |
FAQs
- What is the GDP (PPP) of China?
- The GDP (PPP) of China is $34.64 trillion.
- Which country has the second-highest GDP (PPP)?
- The United States has the second-highest GDP (PPP) at $27.36 trillion.
- What is India’s GDP (PPP)?
- India’s GDP (PPP) is $14.53 trillion.